Recent developments for Linear Minerals Corp include private placement financing and announcements related to exploration programs and results at its properties.

• Linear Minerals Corp closed the first tranche of a private placement financing in December 2025 [N8].
• The company announced an exploration program at the Lac Marion Property in January 2026 [N8].
• The company completed a plan of arrangement and marketing agreement in December 2025 [N8].
• Exploration results from the Lac Marion Property were announced in November 2025 [N8].
• The company announced approval of a plan of arrangement by the Supreme Court of British Columbia in October 2025 [N8].

Linear Minerals Corp’s portfolio includes multiple lithium and critical mineral exploration properties in Canada and the US, with the Augustus Lithium Project as its principal asset. The project has demonstrated lithium-bearing spodumene mineralization through drilling and surface sampling, indicating potential for future resource development. The company’s joint venture agreements and option arrangements with other mineral companies provide avenues for advancing exploration and potential monetization. Its strong liquidity position as of March 31, 2024, with a current ratio of 4.74 and cash ratio of 3.47, supports ongoing exploration activities. The company’s recent private placement financing and strategic transactions may enable focused capital allocation toward promising projects.

Linear Minerals Corp’s properties are at an early exploration stage with no established mineral resources or reserves, which entails significant uncertainty regarding economic viability. The company reported a net loss of CAD 6.6 million for the fiscal year ended March 31, 2024, reflecting ongoing exploration expenses without revenue generation. Exploration activities are subject to regulatory approvals and environmental compliance, with risks of delays or inability to obtain necessary permits. The proposed transaction to sell the Augustus Lithium Project remains subject to due diligence and approvals, with no assurance of completion. The junior resource sector is capital intensive and competitive, with risks related to commodity prices, financing availability, and exploration outcomes.

Linear Minerals Corp operates in the junior resource exploration sector, which is characterized by early-stage exploration properties without established mineral reserves or production. The company’s moat is limited, relying on its portfolio of lithium and critical mineral exploration properties in geologically prospective regions of Canada and the US. Its principal asset, the Augustus Lithium Project, benefits from location in an active mining belt with access to experienced workforce and infrastructure. However, the absence of mineral reserves or production and the exploratory nature of its properties limit competitive advantages. The company’s ability to advance projects through exploration, joint ventures, and potential transactions contributes to its strategic positioning but does not constitute a strong moat in a competitive and capital-intensive industry.

• Exploration and Development Risk: The company’s properties are at an early exploration stage with no mineral reserves or resources established, creating uncertainty about the economic viability of projects.
• Regulatory and Environmental Risk: Exploration and potential mining operations are subject to various laws and regulations, with risks of delays or inability to obtain necessary permits or changes in legislation adversely affecting projects.
• Financing and Liquidity Risk: The company has reported net losses and relies on external financing to fund exploration activities, with risks related to capital availability and dilution.
• Transaction Completion Risk: Proposed transactions, such as the sale of the Augustus Lithium Project, are subject to due diligence, approvals, and conditions that may not be satisfied, affecting strategic plans.

• Linear Minerals Corp is a junior resource company incorporated in British Columbia, Canada, focused on acquiring and exploring mineral properties, primarily lithium and other critical minerals in Canada and the United States.
• The company changed its name from FE Battery Metals Corp to Linear Minerals Corp on December 31, 2024, and its common shares trade on the Canadian Securities Exchange under the symbol 'LINE' and on OTCQB under 'LINMF'.
• The company's fiscal year ends on March 31.
• Linear Minerals holds early-stage exploration properties in Quebec, Ontario, British Columbia, and Washington State, with its principal material property being the Augustus Lithium Project in western Quebec.
• The Augustus Lithium Project consists of 563 mining claims covering approximately 27,700 hectares, including five groups of claims: Abitibi Lithium, Canadian Lithium, McNeely Lithium, Electron Lithium, and Augustus Lithium property claims.
• The company holds 100% rights in the Augustus Lithium Project, subject to certain royalties payable to vendors.
• The company entered into a joint venture agreement with Infini Resources Pty Ltd for certain claims within the Electron Lithium Property, allowing Infini to earn up to 100% interest.
• In June 2026, Linear Minerals entered into a term sheet with Consolidated Lithium Metals Inc. proposing to sell a 100% interest in the Augustus Lithium Project and additional claims for approximately CAD 2.75 million in cash and shares, subject to due diligence and approvals.
• The Augustus Lithium Project is located in an active mining belt with year-round exploration potential and a nearby experienced mining workforce.
• The geology of the Augustus Project includes Archean Preissac-Lacorne batholith with pegmatite dykes containing spodumene and other rare earth minerals, typical of lithium-bearing LCT pegmatites.
• Historical exploration on the Augustus Project dates back to the 1940s, with various companies conducting trenching, drilling, and geophysical surveys identifying spodumene mineralization but no mineral reserves or resources established under S-K 1300.
• Linear Minerals has conducted diamond drilling programs confirming lithium-bearing pegmatites but has not established mineral resources or reserves.
• The company also holds other non-material mineral properties including Lac Marion Uranium Property, Lac Coulombre Property, Falcon Lake Property, and Rose West Lithium Property, with some subject to option or joint venture agreements.
• The Lac Marion Uranium Property consists of 47 mining claims in Quebec, with an option agreement to acquire 100% interest subject to share issuance and exploration expenditures.
• The Lac Coulombre Property consists of 89 mining claims in Quebec, acquired 100% by the company through cash payment and share issuance, subject to a 1.5% NSR royalty with a buyout option.
• The Falcon Lake Property in Ontario consists of 48 mineral claims, with a joint venture agreement allowing Battery Age Minerals Limited to earn up to 100% interest through staged payments and share issuances.
• The company completed a share consolidation in July 2026, resulting in approximately 12.97 million common shares issued and outstanding post-consolidation.
• As of March 31, 2024, the company had cash and cash equivalents of CAD 1,704,908 and current assets of CAD 2,329,121 against current liabilities of CAD 491,452, resulting in a current ratio of 4.74 and a cash ratio of 3.47.
• The company reported a net loss of CAD 6,635,073 for the fiscal year ended March 31, 2024.
• The company’s exploration activities and potential mining operations are subject to various environmental, safety, and regulatory laws in Canada and the US, with no assurance of obtaining all necessary permits or that new regulations will not adversely affect projects.
• Recent news includes the closing of the first tranche of private placement financing in December 2025 and announcements of exploration programs and results at the Lac Marion Property and other projects.
• The company announced the completion of a plan of arrangement and marketing agreement in December 2025 and various exploration results and property acquisitions throughout 2025 and early 2026.